Thermo Fisher Q3 Revenues up 31 Percent
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The company's other third quarter highlights include
• Grew adjusted earnings per share (EPS) by 32% to $1.71.
• Expanded adjusted operating margin by 250 basis points to 21.9%.
• Generated free cash flow of $0.59 billion in the quarter and $1.42 billion year to date.
• Achieved a breakthrough in ultrahigh performance liquid chromatography (UHPLC) with the launch of the Thermo Scientific Vanquish system, which provides both accuracy and speed in a single platform for food safety, industrial and biopharma applications.
• Showcased expanded capabilities for clinical customers at AACC (American Association for Clinical Chemistry), including specialty diagnostics as well as analytical instruments and software now listed with the FDA as Class 1 medical devices for clinical use.
Adjusted EPS, adjusted operating income, adjusted operating margin and free cash flow are non-GAAP measures that exclude certain items detailed later in this press release under the heading “Use of Non-GAAP Financial Measures.”
“We’re pleased to extend our long track record of consistently delivering strong adjusted EPS growth,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “We leveraged our solid top-line results and our culture of operational discipline to achieve excellent performance on the bottom line. I’m also pleased to report that the Life Technologies integration is going very well, and it was another great quarter for innovation across our technology platforms.
“We launched a number of new products during the quarter to strengthen our leadership position in the key markets we serve. Among the highlights was our new Vanquish UHPLC system and columns, a potential game-changer for customers in applied markets who need to analyze high volumes of samples. At AACC, we showcased our expanded offering for customers in clinical laboratories, including allergy and autoimmunity tests, a range of immunosuppressant assays and, especially notable, the new Prelude MD HPLC, Endura MD mass spectrometer and ClinQuan MD software for clinical use. We’re also successfully executing our strategy to expand the markets for our next-generation sequencing technologies with the launch of our Ion PGM Dx system and reagents for clinical use in the U.S. and Europe.”
Further details of the company's performance can be found below.
